REC - adjusted timeline for the REC Solar offering and listing

Sandvika, September 16, 2013. Reference is made to prior stock exchange notices issued by Renewable Energy Corporation ASA (REC) regarding the fully-underwritten NOK 800 million offering in REC Solar ASA (REC Solar).

All shareholders in REC as per end of trading on September 23, 2013 (as registered in the Norwegian Central Securities Depository (the "VPS") on September 26, 2013) will receive non-tradable subscription rights proportional to their shareholding in REC. For each 58 shares held in REC, shareholders will receive the right to subscribe for one new share in REC Solar, and the subscription price will be NOK 20 per share. Oversubscription will not be possible. The shareholders will thus be able to maintain the same ownership stake in REC Solar as they currently hold in REC.

An overview of key dates in relation to the REC Solar offering is given below:

· September 23, 2013: EGM to be held in order to approve the separation
· September 23, 2013: Last day of trading for REC shares including the right to receive subscription rights for the REC Solar offering
· On or about September 27, 2013: Subscription rights distributed to shareholders registered in VPS as of September 26, 2013
· On or about October 3, 2013: A prospectus is published
· On or about October 4, 2013 - October 18, 2013 at 16:30 (CET): Subscription period
· On or about October 21, 2013: Allocation of new shares and distribution of allocation letters
· On or about October 23, 2013: Payment date
· October 24, 2013: REC Q3 results
· On or about October 25, 2013: Delivery of shares and listing of REC Solar

REC will provide further details regarding the previously announced offer to buy back REC01, REC02 and REC03 senior bonds in a separate stock exchange notice.

For further information please contact:
Mikkel Tørud,
SVP Investor Relations & Business Development, REC
Telephone: +47 976 99 144
Email: mikkel.torud@recgroup.com

About REC
REC is a leading global provider of solar electricity solutions. With nearly two decades of expertise, we offer sustainable, high-performing products, services and investment opportunities for the solar and electronics industries. Together with our partners, we create value by providing solutions that better meet the world's growing electricity needs. Our 2,200 employees worldwide generated revenues of more than NOK 7 billion in 2012, approximately EUR 1 billion or USD 1.3 billion.

To see more of what REC can offer, visit www.recgroup.com

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)